Persistence Market Research

Geographically, North America accounted largest share due to high number of ongoing research projects and Asia Pacific expected to show significant growth during forecast period owing to supportive government initiatives coupled with increasing awareness about cell therapies.

Albany, NY -- (SBWIRE) -- 04/10/2018 -- A cell bank refers to a facility that store cells derived from various body fluids and organ tissue for future needs. The bank store the cells with detailed characterization of the cell line hence decrease the chances of cross contamination. Cell banking outsourcing industry involves collection, storage, characterization, and testing of cells, cell lines, and tissues. Cell banks provide cells, cell lines, and tissues for R&D, production of biopharmaceuticals with maximum effectiveness and minimal adverse events. The process for storage of cells includes first proliferation of cells that multiplied in large number of identical cells and then stored into cryovials for future use. Cells mainly used in the regenerative medicine production. Increasing demand of stem cell therapies and number of cell banks expected to boost the global market.

Stem cell banking accounted larger share than non-stem cell banking due to lower risk of contamination. In stem cell banking cord stem cell banking accounted larger share by revenue in 2014 due to increasing number of cord blood banks, and services globally. Additionally, donor convenience, immediate availability, lower risk of viral contamination is major driving factors for cord stem cell banking. In bank phase, segment storage phase accounted largest share and expected to maintain its share due to development of sophisticated preservation technologies such as cryopreservation technique. Geographically, North America accounted largest share due to high number of ongoing research projects. However, Asia Pacific expected to show significant growth during forecast period owing to supportive government initiatives coupled with increasing awareness about cell therapies.

The global cell banking outsourcing market is witnessing lucrative growth during forecast period due to increased research in cell line development owing to rise in incidence of infectious chronic disorder, and cancer. Additionally, development of advanced preservation techniques, increasing adoption to the stem cell therapies, rise in cell bank facilities across globe, and moving focus of researcher towards stem cell therapies would drive the market. However, high cost of therapies, availability of right donors, and legal and changing ethical issues during collection across the globe are major restraint of the market. Risk associated with cell line banking is contamination of cell lines by manual errors or environmental conditions hence care should be taken during storing and handling of cells.